EV Energy Partners L.P. Q2 Profit Rises - Quick Facts

(RTTNews) - EV Energy Partners L.P. (EVEP) reported that its second-quarter net income increased to $32.85 million or $0.74 per share, from $14.96 million or $0.34 per share, last year.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit of $0.16 per share for the quarter. Analysts' estimates typically exclude special items. Total revenues rose to $81.60 million, from $63.55 million last year. Analysts expected revenue of $85.87 million for the quarter.

The company also announced that it, along with certain institutional partnerships managed by EnerVest Ltd., has signed an agreement to divest certain acreage in Ohio's Utica Shale for $284.3 million to an undisclosed buyer. The total acreage associated with this sale includes 22,535 acres in Guernsey, Harrison and Noble counties. Of that total, the company is selling 4,345 acres for approximately $56 million, net to its ownership interest.